ETC and IPO Type4 Trade SetupETC is an IPO stock forming Type 4 trade setup. It's likely moving on W.3 or W.C with expected target price at 2 levels (Fibo. R.61.8% and Fibo. R.78.6% of the whole length between the the highest of first bar and the lowest bar. However, I prepared the plan and took the action already on Friday. Thus, the higher price you buy, the more risk you have to manage. Enjoy.
ETC trade ideas
Long ETC if closes above 2.24, TP: 2.72 ETC's investors await good earnings reports today, if it closes above 2.24, the next target is 2.38, and subsequently 2.72. MACD looks goods, relative strength is quite strong. Good short term moving average upward cross. Chart pattern going according to Fibonacci pattern.